From: research
Sent: Friday, May 22, 2020 7:11:01 AM (UTC-06:00) Central Time (US & Canada)
To: research
Subject: Daily Market Report – May 22, 2020

The EIA reported a smaller-than-expected build yesterday for week ending May 15th.  We were projecting a +79 Bcf, and the report came in at +81 Bcf. Total consumption for the week was 3.9 Bcf/d higher than the previous week with cooler weather primarily raising ResComm demand in the Northeast and Midwest. The weather map below shows the wide spread cold that resulted in the build that came in lower than LY and the 5 Yr avg. The current storage level as of this report is 2503 Bcf (+779 vs LY, +407 vs. 5Yr)



Looking forward to next week’s report for week ending May 22, we see a triple digit build once again. Weather recovered to more normal levels resulting in overall demand dropping by 5.9 Bcf/d week-on-week. Although, this looseness was offset by production dropping 2.6 Bcf/d drop from the previous week. Our early for the next report currently stands at +108 Bcf.


Today’s Fundamentals:
Daily US natural gas production is estimated to be 82.7 Bcf/d this morning. Today’s estimated production is -0.01 Bcf/d lower higher than yesterday, and -0.86 lower than the 7D average.

Natural gas consumption is modelled to be  61.3 Bcf today, -1.837 Bcf lower than yesterday and -0.99 Bcf lower than the 7D average. US power burns are expected to be 27.0 Bcf today, and US ResComm usage is expected to be 9.6 Bcf.

Net LNG deliveries are expected to be 5.8 Bcf/d today.

Mexican exports  are 5.4 Bcf/d. Net Canadian imports dropped to 3.7 Bcf/d.



Bloomberg IM: Het Shah
enelyst DM:
Tel: 917-975-2960


This email, any information contained herein and any files transmitted with it (collectively, the Material) are the sole property of OTC Global Holdings LP and its affiliates (OTCGH); are confidential, may be legally privileged and are intended solely for the use of the individual or entity to whom they are addressed. Unauthorized disclosure, copying or distribution of the Material, is strictly prohibited and the recipient shall not redistribute the Material in any form to a third party. Please notify the sender immediately by email if you have received this email by mistake, delete this email from your system and destroy any hard copies. OTCGH waives no privilege or confidentiality due to any mistaken transmission of this email.